Chinese team released software to mine Satoshi's coin - page 5.

Oscilson

sr. member

Activity: 434

Merit: 250

Quote from: AT101ET on May 03, 2015, 10:40:00 AM

I imagine that if Satoshi's wallets could be hacked, then so could all of ours. That would render BTC as a 'flawed' system and people would dump all their coins.
Doesn't make sense to me...

I am sure my wallets are secured by law of universe.

AT101ET

legendary

Activity: 3178

Merit: 1348

I imagine that if Satoshi's wallets could be hacked, then so could all of ours. That would render BTC as a 'flawed' system and people would dump all their coins.
Doesn't make sense to me...

Skunk Fu

newbie

Activity: 42

Merit: 0

Hey, I can create a software targeting Satoshi's addresses too.
Will I?

Nope.

The photo above says it all.....

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: hl5460 on May 03, 2015, 03:51:01 AM

A Chinese team just released a software, targeting to find the private key of addresses that are believed to be held by Satoshi himself.

Good luck.

AGD

legendary

Activity: 2070

Merit: 1164

Keeper of the Private Key

Quote from: NyeFe on May 03, 2015, 07:10:37 AM

Quote from: Ingatqhvq on May 03, 2015, 06:53:51 AM

Why don't you collect the top 100 or 1000 rich address and then find their private key? there is no difference.
Which means any one try to find a private key with your method is really stupid Cheesy

The total entropy of your method would be (2^256)x100 or (2^256)x1000 which is

1.1579209e+79 Or 1.1579209e+80 possible trials

Which means, that this is endlessly (or eternally) stupid. Only trusting software that makes the promise to hack Bitcoin is worse.

NyeFe

hero member

Activity: 699

Merit: 501

Quote from: Ingatqhvq on May 03, 2015, 06:53:51 AM

Why don't you collect the top 100 or 1000 rich address and then find their private key? there is no difference.
Which means any one try to find a private key with your method is really stupid Cheesy

The total entropy of your method would be (2^256)x100 or (2^256)x1000 which is

1.1579209e+79 Or 1.1579209e+80 possible trials

Ingatqhvq

hero member

Activity: 532

Merit: 500

Why don't you collect the top 100 or 1000 rich address and then find their private key? there is no difference.
Which means any one try to find a private key with your method is really stupid Cheesy

fox19891989

hero member

Activity: 840

Merit: 1000

The truth is Bitcoin could be hacked! BUT YOU NEED TO LIVE FOREVER.

There are 1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976 (Quattuordecillion) +- possible key pairs.

Method

STEP 1:
You cover all eight planets in our solar system with storage devices which can store yottabytes of data.

STEP 2:
You find another eight planets in other solar systems and cover them with billions of supercomputers

STEP 3:
You generate every bitcoin key pair then store each of them in the storage devices, on the surface of those planets.

STEP 4:
You use the supercomputers and loop through the data

STEP 5:
Collect your reward

Estimated time of complition for one key: 256^256* years

Reference:
https://bitcointalksearch.org/topic/m.10943694

LMAO, i am sure the hacker team is doing nothing, it's impossible to hack, or exchange owners would be cry. Cheesy

frankenmint

legendary

Activity: 1456

Merit: 1018

HoneybadgerOfMoney.com Weed4bitcoin.com

Quote from: jdebunt on May 03, 2015, 06:03:34 AM

Assuming this is not a virus (which it probably is), what are people thinking by coming up with things like these? Just work for your money, all of us have to do it

Some people feel that knowledge entitles them to instant riches or that it works like movies. Sometimes it takes years to build up a repertoire of skills to find higher paying work, but in the end it seems to come down to decisions made on your own financial efforts that amount to the largest rewards - even if that means freelancing for the captains of industry here and there.

jdebunt

legendary

Activity: 1596

Merit: 1010

Assuming this is not a virus (which it probably is), what are people thinking by coming up with things like these? Just work for your money, all of us have to do it

frankenmint

legendary

Activity: 1456

Merit: 1018

HoneybadgerOfMoney.com Weed4bitcoin.com

Quote from: jacktheking on May 03, 2015, 04:29:28 AM

If they lucky enough.. they might be able to find the private key. However.. even if they find it.. No one will be using Bitcoin since it is insecure.

So, what's the point of finding it if you can't sell it for a good price?

Says the guy with a signature campaign, although I get it. If you have $25 you can start a full online business and take bitcoin, even free if you're savy with software or website development, just saying.

And while that team could try their best, actions speak louder than announcement threads. I think the true motivation could be reversibility of lost bitcoin maybe.

numanoid

legendary

Activity: 1890

Merit: 1148

Hmmmm... that is interesting/funny and crazy at the same time . Even if they bring a SuperComputer, they can't possibly crack it in several 100 years. And even if they do it let's say in 50 years , they will get 50 btc , 1 btc a year ? Cheesy

. They can mine better with that suer computer of there's Cheesy

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: vm_mpn on May 03, 2015, 04:31:06 AM

Could you please explain in general terms the technical procedure of this effort? Are they going to reverse engineer his public key somehow? Or will they gather enough hashing power and speed to eventually generate the same key pair? Wish I could read Chinese Undecided

I think that they try to create a 'vanity address' that is actually Satoshi's address.
(The public vanity generator may need some adjustment for that.)

AGD

legendary

Activity: 2070

Merit: 1164

Keeper of the Private Key

They will need some million years to crack one address with 50 BTC in it. Hooray!
Most of Satoshis wallets contain 50BTC or less as far as I know, so cracking it in more than a few years, would be -EV.

SpanishSoldier

sr. member

Activity: 728

Merit: 256

Quote from: hua_hui on May 03, 2015, 05:31:30 AM

Quote from: SpanishSoldier on May 03, 2015, 05:22:11 AM

Quote from: Kaneki on May 03, 2015, 05:10:59 AM

if this is true and he is successful,it would supposed destruction for price and bitcoin itself.

As if they'll tell u that they are successfull. The world will think that Satoshi is moving his coins.

Before Quantam comuter come out, some coins probably take the place of bitcoin with more complicated algo.or Bitcoin can evolve to new algo otherwise it will die!

Moving from SHA-256 to SHA-512 may thoratically solve the problem. But, that would require a hard fork, which is not easy at the scale Bitcoin is spread right now.

hua_hui

legendary

Activity: 1386

Merit: 1016

Quote from: SpanishSoldier on May 03, 2015, 05:22:11 AM

Quote from: Kaneki on May 03, 2015, 05:10:59 AM

if this is true and he is successful,it would supposed destruction for price and bitcoin itself.

As if they'll tell u that they are successfull. The world will think that Satoshi is moving his coins.

Before Quantam comuter come out, some coins probably take the place of bitcoin with more complicated algo.or Bitcoin can evolve to new algo otherwise it will die!

Q7

sr. member

Activity: 448

Merit: 250

Why bother? just let them try and see how it turns out. I wouldn't be surprise if the software is actually a hidden mining software that mines in the background instead of claiming to find private key to the address. And if there is tons of people using the software, imagine how many coins can be mined and sent to the person.

SpanishSoldier

sr. member

Activity: 728

Merit: 256

Quote from: Kaneki on May 03, 2015, 05:10:59 AM

if this is true and he is successful,it would supposed destruction for price and bitcoin itself.

As if they'll tell u that they are successfull. The world will think that Satoshi is moving his coins.

S4VV4S

hero member

Activity: 1582

Merit: 502

Quote from: SpanishSoldier on May 03, 2015, 05:04:22 AM

Quote from: fox19891989 on May 03, 2015, 04:19:16 AM

SHA256 seems secure enough, I think they won't hack satoshi's keys in 1000 years. Grin

Unless China is running some Quantam comuter secretly.

Quote from: fox19891989 on May 03, 2015, 04:19:16 AM

And it's immoral to hack others' btc addresses private keys, if they can hack those keys, no one's bitcoin address is secure, theoretically, they are just dreaming and doing evil things. Grin

There is no point in considering evil things should not be done in financial world. If a system can not stand in front of an evil force, that system is fragile. I think the best way to secure coins is having them on a multisig generated offline. That way, even if someone stmble upon any of the private key of an address (I know the possibility calculation... but getting a real random source is the problem), the coins will stay secure.

I think they are trying to brute force the addresses with something similar (if not the same) to Vanity.
It's the only thing that makes sense to me.

Kaneki

sr. member

Activity: 252

Merit: 250

if this is true and he is successful,it would supposed destruction for price and bitcoin itself.

Topic: Chinese team released software to mine Satoshi's coin - page 5. (Read 6377 times)